A RESEARCH ON CUSTOMER BEHAVIOR WHEN USING PAYMENT BANK CARDS AT TECHCOMBANK NGUYEN HUE, DANANG, VIETNAM

Bachelor’s Thesis Degree Programme in Business Administration International Business 2015 NGUYEN THANH TRUNG A RESEARCH ON CUSTOMER BEHAVIOR WHEN USING PAYMENT BANK CARDS AT VIETNAM TECHNOLOGICAL AND COMMERCIAL JOINT STOCK BANK – TECHCOMBANK NGUYEN HUE – DANANG, VIETNAM BACHELOR’S THESIS | ABSTRACT TURKU UNIVERSITY OF APPLIED SCIENCES Bachelor of Business Administration | International Business 2015 | 60+22 Instructor: Ajaya Joshi Author: Nguyen Thanh Trung A RESEARCH ON CUSTOMER BEHAVIOR WHEN USING PAYMENT BANK CARDS AT TECHCOMBANK NGUYEN HUE, DANANG, VIETNAM The banking services, particularly payment cards, are among the most dynamic and developing sectors in the expanding economy of Vietnam in recent years Under the fierce and intense competition among domestic and international banks, almost every bank has been increasingly trying to focus on its services in order better to respond efficiently to customers’ ever-changing behaviors and expectations This research seeks to investigate customer behavior when using payment card services at Techcombank Nguyen Hue, Danang, Vietnam, which includes identifying the underlying factors and motivations that drive customers’ decision for using payment card services at the Bank, and more importantly evaluating the customer satisfaction level on the banking services offered The research was carried out with the use of quantitative method, collecting primary data from customers who have been employing the services provided by Techcombank Nguyen Hue, by using structured questionnaires The findings reveal that customers choose Techcombank as a services provider owing to the high reputation and prestige of the Bank, the large number of ATMs and POS, the safe and convenient ATM locations, as well as the wide variety of card products’ features As to customer satisfaction, the large majority are generally satisfied and appreciate the services provided by Techcombank Nguyen Hue; however, the price and promotion issues are fairly underestimated, not to mention some common problems at ATMs The research also gives some suggestions for Techcombank Nguyen Hue on how to enhance its services so as to encourage repeat patronage and attract new customers KEYWORDS: consumer/customer behavior, customer satisfaction, payment card, banking services, service quality, Techcombank, Vietnam CONTENT LIST OF ABBREVIATIONS (OR) SYMBOLS INTRODUCTION 1.1 Research background 1.2 Rationale for the study 10 1.3 Research objectives 11 1.4 Research questions 11 1.5 Thesis structure 11 LITERATURE REVIEW 13 2.1 Introduction 13 2.2 Consumer behavior 13 2.3 The basic factors affecting consumer behavior for using payment bank cards 13 2.3.1 Consumer characteristics 14 2.3.2 Payment method characteristics 14 2.3.3 Transaction characteristics 17 2.4 Customer satisfaction 19 2.5 Service marketing mix 20 2.6 The impacts of service marketing mix on customer satisfaction 20 2.6.1 Product 21 2.6.2 Price 22 2.6.3 Place 23 2.6.4 Promotion 23 2.6.5 Physical evidence 24 2.6.6 People 25 2.6.7 Process 25 VIETNAM TECHNOLOGICAL AND COMMERCIAL JOINT STOCK BANK – TECHCOMBANK, VIETNAM 27 3.1 About Techcombank Vietnam 27 3.2 About Techcombank Nguyen Hue Transaction Office, Danang, Vietnam 28 3.3 Techcombank Card Products and Services 28 METHODOLOGY 32 4.1 Introduction 32 4.2 Choice of research method 32 4.3 Research strategy 33 4.4 Questionnaire design 33 4.5 Sampling technique 34 4.6 Questionnaire distribution and data collection 35 4.7 Data Analysis 36 4.8 Limitations of the research 36 FINDINGS, ANALYSIS AND DISCUSSION 37 5.1 Introduction 37 5.2 Profile of the study sample 37 5.3 Customer behavior when using Techcombank payment card services 39 5.3.1 Customer motivations and habits for using Techcombank payment card services 39 5.3.2 Customer satisfaction regarding payment card services provided by Techcombank Nguyen Hue 48 CONCLUSION AND RECOMMENDATION 61 6.1 Introduction 61 6.2 Customer behavior when using payment bank cards at Techcombank Nguyen Hue, Danang, Vietnam 61 6.3 Recommendations 63 6.4 Implication for further research 67 REFERENCES 68 APPENDICES APPENDIX 1: TECHCOMBANK ATM LOCATIONS IN DANANG CITY, VIETNAM APPENDIX 2: SURVEY QUESTIONNAIRE (Translated from Vietnamese) APPENDIX 3: LETTER OF REFERENCE - PROOF OF CARRYING OUT AN INTERNSHIP AT TECHCOMBANK NGUYEN HUE, DANANG, VIETNAM FIRGURES Figure 1: Rate of cash flow in total payment methods Figure 2: Number of issued bank cards over the years Figure 3: Customers' Gender 37 Figure 4: Customers' age 38 Figure 5: Customers' education level 38 Figure 6: Customers' monthly average income 39 Figure 7: Payment cards using situation by categories 40 Figure 8: Sources of Techcombank payment card services information 41 Figure 9: Time of using Techcombank payment cards 42 Figure 10: Purposes of using payment bank cards 43 Figure 11: Customers' use of other bank card services 45 Figure 12: Customers' reasons for using Techcombank cards 45 Figure 13: Frequency of card using by customers 46 Figure 14: Customers' methods of using payment bank cards 47 Figure 15: Number of ATMs of different banks in Danang 55 Figure 16: The problems encountered by customers when using cards at ATMs 58 TABLES Table 1: Customer assessment of the Product 48 Table 2: Customer assessment of the Price 50 Table 3: Customer assessment of the Place 51 Table 4: Customer assessment of the Promotion 52 Table 5: Customer assessment of the Physical Evidence 54 Table 6: Customer assessment of the People 56 Table 7: Customer assessment of the Process 57 Table 8: Customer intention for long-term use 59 Table 9: Customer word-of-mouth behavior 60 LIST OF ABBREVIATIONS (OR) SYMBOLS 4Ps Product, Price, Place, Promotion 7Ps Product, Price, Place, Promotion, Physical Evidence, People, Process ACB Asia Commercial Bank ASEAN Association of Southeast Asian Nations ATM Automated Teller Machine DongA Bank DongA Joint Stock Commercial Bank Eximbank Vietnam Export Import Bank POS Point of Sale SeABank Southeast Asia Commercial Joint Stock Bank Techcombank Vietnam Technological and Commercial Joint Stock Bank Vietcombank Joint Stock Commercial Bank for Foreign Trade of Vietnam VietinBank Vietnam Joint Stock Commercial Bank for Industry and Trade INTRODUCTION 1.1 Research background A payment card is a means of cashless payment which is very useful in today’s modern world This simple and small piece of plastic could be regarded as the greatest source of personal convenience as individuals no longer have to carry a large amount of cash for making any purchase In addition, a payment card is of greater importance when it comes to making online transactions in the age of digital commerce These are the essential advantages that using payment bank cards is a valid option for individuals According to the Payments Council, card payments will continually overtake cash in the years to come, representing a positive shift in the way consumers spend their money Whilst the number of cash transactions is forecasted to decrease from 21 billion in 2012 to 14 billion in 2022, the use of payment bank cards is on the rise, from 10 to 17 billion (Belfast Telegrapgh, 2013) In Vietnam, the rate of cash payment has declined over the years, specifically from 31.6% in 1991 to 11.8% in 2012, based upon the statistics of the State Bank of Vietnam (Vietnam E-commerce and Information Technology Agency, 2012, 13) Figure 1: Rate of cash flow in total payment methods Source: Vietnam E-commerce and Information Technology Agency, 2012, 13 TURKU UNIVERSITY OF APPLIED SCIENCES THESIS | TRUNG NGUYEN Meanwhile, the proportion of non-cash payment has been growing remarkably In recent years, the payment bank card market in Vietnam has been developing noticeably, bringing significant revenue for numerous banks despite of difficult economic condition By the end of June 2012, the number of cards issued by banks reached 47.22 million (Vietnam E-commerce and Information Technology Agency, 2012, 13-15) Figure 2: Number of issued bank cards over the years Source: Vietnam E-commerce and Information Technology Agency, 2012, 15 In addition to payment bank cards significantly contributing to the rising incomes for banks, they also play a crucial role in fostering the rapid economic growth as well as improving the legal system in Vietnam, said Nguyen Thu Ha – chairperson of the Vietnam Card Association under the Vietnam Banking Association from both the macro-economic and banking perspectives (Vietnam Chamber of Commerce and Industry, 2015) Gordon Cooper, Visa International’s country manager for Vietnam, Laos and Cambodia also shared the upbeat outlook on the market potential of Vietnam and said that “Electronic payments have grown rapidly worldwide and Vietnamese consumers now demand the convenience of cards” (Vietnam Chamber of Commerce and Industry, 2015) TURKU UNIVERSITY OF APPLIED SCIENCES THESIS | TRUNG NGUYEN 10 1.2 Rationale for the study It is clear that the Vietnamese bank card market has been booming lately (Vietnam Chamber of Commerce and Industry, 2015) Under the fierce competition amongst banks, each bank has been increasingly trying to focus on its banking services to meet and even exceed customer expectations Over the years, Techcombank has proven its position to be one of the best banks and leading businesses in Vietnam Additionally, Techcombank is amongst the top 10 leading banks on number of issued bank cards (Vietnam Ecommerce and Information Technology Agency, 2012, 15) Furthermore, Techcombank is always the pioneer in improving its service quality over any other in order to satisfy its customers’ highest demands and expectations Chakrabarty (2015) stated that customer satisfaction is the key to the profitability of banks, not to mention its implication in the retention of customers for the long term, thus lowering the cost of attracting new customers I worked for Techcombank Nguyen Hue, Danang, Vietnam as intern for months period During my internship, little was revealed about the customer behavior when using payment bank cards, the evaluation of payment bank card service quality, as well as the customer satisfaction on its services provided These are, of course, crucially significant in improving the Bank’s services in the long run In order to further deepen the knowledge on consumer behavior in banking, I would carry out the research on the behavior of customers when using payment bank cards, including the satisfaction of individual customers, which might help the Bank to evaluate its services Solutions will then be proposed for Techcombank Nguyen Hue on how to enhance its services in order better to encourage repeat patronage and loyalty, and attract new customers TURKU UNIVERSITY OF APPLIED SCIENCES THESIS | TRUNG NGUYEN 68 REFERENCES ACB, 2015 ACB [Online] Available at: http://acb.com.vn/wps/portal/Home/atm [Accessed May 2015] Arango, C & Taylor, V., 2009 The Role of Convenience and Risk in Consumers' Means of Payment Bank of Canada Discussion Paper, Issue 2009-8, p 12 Baron, S & Harris, K., 2003 Services Marketing 2nd ed Basingstoke : Palgrave Belfast Telegrapgh, 2013 Belfast Telegrapgh [Online] Available at: http://www.belfasttelegraph.co.uk/business/news/card-payments-toovertake-cash-29514771.html [Accessed 11 Feburary 2015] Bolt, W., Humphrey, D & Uittenbogaard, 2008 Transaction Pricing and the Adoption of Electronic Payments International Journal of Central Banking, p 94 Borzekowski, R., Kiser, E K & Ahmed, S., 2006 Consumers' Use of Debit Cards: Patterns, Perferences, and Price Response Finance and Economics Discussion Series, p 10 Bounie, D & François, A., 2006 Cash, Check or Bank Card? The effects of transaction characteristics on the use of payment instruments Telecom Paris, Department of Economics and Social Sciences, Paris Carbó-Valverde, S & Liñares-Zegarra, J M., 2011 How effective are rewards programs in promoting payment card usage? Empirical Evidence p 21 Chakrabarty, A., 2015 Barking Up the Wrong Tree – Factors Influencing Customer Satisfaction in Retail Banking in the UK International Journal of Applied Marketing, 1(1), p TURKU UNIVERSITY OF APPLIED SCIENCES THESIS | TRUNG NGUYEN 69 Ching, A & Hayashi, F., 2006 Payment Card Rewards Programs and Consumer Payment Choice Payments System Research, Federal Reserve Bank of Kansas City, Issue 06-02, pp 1-35 DongABank, 2015 DongABank [Online] Available at: http://www.dongabank.com.vn/en/atm/list_atm [Accessed May 2015] Drummond, G & Ensor, J., 2005 Introduction to Marketing Concepts 1st ed Oxford: Elsevier Butterworth-Heinemann Eximbank, 2015 Eximbank [Online] Available at: http://eximbank.com.vn/Home/Static/mangluoiATM.aspx [Accessed May 2015] Gilmore, A., 2003 Services Marketing and Management 1st ed London: SAGE Publications Ltd Grigoroudis, E & Siskos, Y., 2010 Customer Satisfaction Evaluation: Methods for Measuring and Implementing Service Quality New York: Springer Science+Business Media Hayashi, F & Klee, E., 2003 Technology Adoption and Consumer Payments: Evidence from Survey Data Payments System Research, Federal Reserve Bank of Kansas City, 2(2), p 176 Hoffman, K D & Bateson, J E G., 2001 Essentials of Services Marketing 2nd ed Ohio: Thomson Learning Hoffman, K D & Bateson, J E G., 2010 Services Marketing: Concepts, Strategies, & Cases 4th ed Mason: South-Western Cengage Learning Jaarsveld, C & Heerden, C., 2007 The relationship between selected marketing mix elements and overall customer satisfaction in South African banks TURKU UNIVERSITY OF APPLIED SCIENCES THESIS | TRUNG NGUYEN 70 Kardes, F., Cronley, M & Cline, T., 2008 Consumer Behavior 2nd ed Stamford: Cengage Learning Klee, E., 2006 Families' Use of Payment Instruments During a Decade of Change in the U.S Payment System Finance and Economics Discussion Paper, p Kotler, P & Keller, K L., 2012 Marketing Management 14th ed New Jersey: Prentice Hall Lancaster, G & Massingham, L., 2011 Essentials of Marketing Management 1st ed Abingdon: Routledge Ling, A P A., 2007 The impact of marketing mix on customer satisfaction: a case study deriving consensus rankings from bechmarking Lovelock, C & Wirtz, J., 2011 Services Marketing 7th ed Harlow: Pearson Education Mahmud, R A., 2006 Customer Satisfaction related to Marketing Mix of Jamuna Bank Limited Mattsson, K., 2009 Customer Satisfaction in The Retail Market Moorthi, Y L R., 2002 An Approach to Branding Services Journal of Services Marketing, 16(3), p 259 Oliver, R L., 2010 Satisfaction: A Behavioral Perspective on the Consumer 2nd ed New York : M.E Sharpe, Inc Saunders, M., Lewis, P & Thornhill, A., 2009 Research methods for business students 5th ed Harlow: Pearson Education Limited Schuh, S & Stavins, J., 2011 How Consumers Pay: Adoption and Use of Payments Federal Reserve Bank of Boston , Issue 12-2, pp 1-35 SeABank, 2015 SeABank [Online] Available at: http://www.seabank.com.vn/index.php?option=com_network&Itemid=820 [Accessed May 2015] TURKU UNIVERSITY OF APPLIED SCIENCES THESIS | TRUNG NGUYEN 71 Solomon, M., Bamossy, G., Askegaard, S & Hogg, M K., 2013 Consumer Behavior: A European Perspective 5th ed Harlow: Pearson Techcombank, 2015a Techcombank [Online] Available at: https://www.techcombank.com.vn/about-us/about-techcombank [Accessed 16 April 2015] Techcombank, 2015b Techcombank [Online] Available at: https://www.techcombank.com.vn/personal-banking/cards/techcombankvisa-debit-cards/fast-access [Accessed 16 April 2015] Techcombank, 2015c Techcombank [Online] Available at: https://www.techcombank.com.vn/personal-banking/cards/techcombankvisa-debit-cards/classic-gold [Accessed 16 April 2015] Techcombank, 2015d Techcombank [Online] Available at: https://www.techcombank.com.vn/personal-banking/cards/techcombankvisa-credit-cards/classic-gold [Accessed 16 April 2015] Techcombank, 2015e Techcombank [Online] Available at: https://www.techcombank.com.vn/personal-banking/cards/techcombankvisa-credit-cards/platinum [Accessed 16 April 2015] Techcombank, 2015f Techcombank [Online] Available at: https://www.techcombank.com.vn/personal-banking/cards/co-brandingvisa-credit-cards/vietnam-airlines-classic-gold [Accessed 16 April 2015] Techcombank, 2015g Techcombank [Online] Available at: https://www.techcombank.com.vn/branches-atmlocations/list?fKeyword=&fCityId=4&fDistrictId=0&chkBranch=False&chkAtm=True&chk TURKU UNIVERSITY OF APPLIED SCIENCES THESIS | TRUNG NGUYEN 72 Priority=False&page=6&pageItems=5 [Accessed May 2015] Techcombank, 2015h Techcombank [Online] Available at: https://www.techcombank.com.vn/mang-luoi-dia-diem-atm/danh-sach-chinhanh-phong-giao-dich-vaatm?fKeyword=&fCityId=4&fDistrictId=0&chkBranch=false&chkPriority=false [Accessed May 2015] Vietcombank, 2015 Vietcombank [Online] Available at: http://www.vietcombank.com.vn/atm/Default.aspx?lang=en [Accessed May 2015] VietinBank, 2015 VietinBank [Online] Available at: http://card.vietinbank.vn/sites/home/vi/diem-dat-atm/ [Accessed May 2015] Vietnam Chamber of Commerce and Industry, 2015 Vietnam Business Forum [Online] Available at: http://vccinews.com/news_detail.asp?news_id=3729 [Accessed 11 2015] Vietnam E-commerce and Information Technology Agency, 2012 Vietnam E-commerce Report 2012, Hanoi: s.n VnBusinessReg, 2014 Non-cash payment in urgency [Online] Available at: http://www.vnbusinessreg.com/cash-payment-urgency/ [Accessed 2015] Zeithaml, V A & Bitner, M J., 2000 Services Marketing: Integrated Customer Focus Across the Firm 2nd ed Boston: McGraw-Hill Zinman, J., 2008 Debit or Credit Journal of Banking and Finance, p 19 TURKU UNIVERSITY OF APPLIED SCIENCES THESIS | TRUNG NGUYEN Appendix APPENDIX 1: TECHCOMBANK ATM LOCATIONS IN DANANG CITY, VIETNAM ATM Techcombank 29 - LOCATION 24-26 Điện Biên Phủ, Chính Gián, Quận Thanh Khê, Đà Nẵng ATM Chi nhánh Techcombank Đà Nẵng (M5) 244 - 248 Nguyễn Văn Linh, Quận Thanh Khê, Đà Nẵng Bệnh Viện Mắt Đà Nẵng 68 Phan Đăng Lưu, Quận Hải Châu, Đà Nẵng Big C Đà Nẵng 255-257 Hùng Vương, Quận Thanh Khê, Đà Nẵng Bưu điện Đà Nẵng Ngô Quyền, Quận Sơn Trà, Đà Nẵng Cty Foster - Đà Nẵng Số KCN Hòa Cầm, Phường Hòa Thọ Tây, Quận Cẩm Lệ, Đà Nẵng Cty Foster - KCN Hòa khánh Lô E- Đường Số 7, KCN Hòa Khánh, Quận Liên Chiểu, Đà Nẵng .Cty ITG Phong Phú Đường số KCN Hòa Khánh, Quận Liên Chiểu, Đà Nẵng Cty Keyhinge Toys - KCN KCN Hòa Cầm, Quận Cẩm Lệ, Đà Nẵng Hòa Cầm 10 Cty Tài Dầu Khí Đà Nẵng 11 Cty TNHH LK Word & TNHH Tristar Lô A2.1 300 Đường 30 Tháng 4, Quận Thanh Khê, Đà Nẵng KCN Hòa Khánh mở rộng, Quận Liên Chiểu, Đà Nẵng Appendix 12 Ga Đà Nẵng 200 Hải Phòng, Quận Thanh Khê, Đà Nẵng 13 KCN Hòa Cầm KCN Hòa Cầm, Quận Cẩm Lệ, Đà Nẵng 14 Metro Đà Nẵng Cách mạng tháng 8, Quận Thanh Khê, Đà Nẵng 15 Ngũ hành Sơn 27 Ngũ Hành Sơn, Quận Cẩm Lệ, Đà Nẵng 16 Nhà sách Bạch Đằng - Đà 76 Bạch Đằng, Quận Hải Châu, Đà Nẵng Nẵng 17 Sân bay quốc tế Đà Nẵng Sân bay quốc tế, Quận Hải Châu, Đà Nẵng 18 Sở Ngoại vụ Đà Nẵng 04 Trần Phú, Quận Hải Châu, Đà Nẵng 19 Sở Y Tế - Đà Nẵng 103 Hùng Vương, Quận Hải Châu, Đà Nẵng 20 Techcombank Chợ Hàn 136 Trần Phú, Quận Hải Châu, Đà Nẵng 21 Techcombank Chợ Mới 298 Trưng Nữ Vương, Quận Hải Châu, Đà Nẵng 22 Techcombank Đà Nẵng 244-248 Nguyễn Văn Linh, Quận Hải Châu, Đà Nẵng 23 Techcombank Hải Châu 291 Ông Ích Khiêm, Quận Hải Châu, Đà Nẵng 24 Techcombank Hòa Khánh 661 Tôn Đức Thắng, Quận Liên Chiểu, Đà Nẵng 25 Techcombank Phan Chu 97 Phan Chu Trinh, Quận Hải Châu, Đà Nẵng Trinh 26 Thanh Binh Techcombank 54 Ông Ích Khiêm, P.Thanh Bình, Quận Hải Châu, Đà Nẵng 27 Techcombank Thanh Khê Tòa nhà Đà Nẵng Plaza, số 16 Trần Phú, phường Thạch Quang, Quận Hải Châu, Đà Nẵng Appendix 28 Tổng Cty Giao Thông Đô Thị Tổng Cty Giao Thông Đô Thị 5, Quận Hải Châu, Đà Nẵng 29 UBND Quận Cẩm Lệ 40 Ông Ích Đường, Quận Cẩm Lệ, Đà Nẵng 30 Viện nghiên cứu phát triển 118 Lê Lợi, Quận Hải Châu, Đà Nẵng KT-XH Source: (Techcombank, 2015h) Appendix APPENDIX 2: SURVEY QUESTIONNAIRE (Translated from Vietnamese) QUESTIONNAIRE Dear customer, I am currently conducting a survey about customer behavior when our customers use payment card services provided by Techcombank Nguyen Hue This research will help improve the quality of payment card services in the long run, your opinions are therefore of great importance to the accomplishment of this research The survey data will be treated with confidentiality and anonymity, and only used for the purpose of this research Therefore, please feel at ease when answering the questions The questionnaire will take about minutes to complete Thank you for your time and assistance! Part I: Customer information Please kindly provide some of your personal information Question 1: Gender  Male  Female Question 2: Age     18 – 30 30 – 45 45 – 60 Other: _ Question 3: Education level     High school College University Post-graduate Question 4: Average income per month     < million VND – 10 million VND 10 – 20 million VND > 20 million VND Appendix Part II: Customer behavior towards using Techcombank payment card services Please tick the answer(s) below that apply to you or fill in the blanks where necessary Question 5: Please select the type of Techcombank card(s) you are currently using        F@stAccess domestic debit card International Techcombank Visa debit card International Techcombank Visa credit card The co-branded card with Vietnam Airlines The co-branded card with Mercedes-Benz International Techcombank Visa Platinum credit card Other: _ Question 6: Where did you find out about Techcombank payment card services?      At transaction counters TV ads, magazines, newspapers, leaflets, posters Website: www.techcombank.com Family/Friends/Colleagues Other: Question 7: Since when have you been using Techcombank cards for?     < months months - year - years > years Question 8: How you use the payment cards for? Please tick the appropriate number which best indicates your opinion for each aspect Strongly disagree a b c d Receiving salary through cards Transferring or receiving money Convenience in payment Security – it is a safe place to keep money e Spending control f Record keeping Disagree Neither agree nor disagree Agree Strongly agree Appendix Question 9: Do you use payment card services of other banks?  Yes  No Question 10: Why you choose Techcombank cards? Please tick the appropriate number which best indicates your opinion for each aspect Strongly disagree Disagree Neither agree nor disagree Agree Strongly agree a Card is issued by a reputable Bank b Card has many features c Card products have many reward programs d Reasonable service charge e The Bank has many ATMs f ATM location is convenient and safe g The Bank has many points of sale Question 11: How often you use Techcombank cards?     Less than once a week or times a week to times a week More than times a week Question 12: Which banking services of payment card you usually use? Please tick the appropriate number which best indicates your opinion for each aspect a Withdrawing money b Transferring money c Making payments Never Rarely Sometimes Frequently Very frequently Appendix Question 13: Customer satisfaction Please indicate to what extent you agree or disagree of the listed criteria about Techcombank payment card services by checking the most appropriate number Section A: Product Strongly disagree Disagree Fair Agree Strongly agree a Payment card products are diversified b Services are of high quality c The Bank provides services on time as promised d My account information is always kept confidential e ATM systems operate continuously Section B: Price Strongly Disagree disagree Fair Agree Strongly Disagree disagree Fair Agree Strongly agree a Service charge is competitive with other banks’ b The quality of services is a good value for money Section C: Place a Techcombank Nguyen Hue office is located at convenient location b ATM machines are positioned widely, and in safe and convenient locations c POS units are distributed widely in different business sectors Strongly agree Appendix Section D: Promotion Strongly Disagree disagree Fair Agree Strongly Disagree disagree Fair Agree Strongly Disagree disagree Fair Agree Strongly agree a Techcombank payment card services are advertised and promoted broadly b Techcombank offers regular sales promotions (discount, voucher, coupon…) c I am well introduced of card features d Usable manipulation is fully guided e I easily know the ATM points f I am well informed of how to deal with card problems Section E: Physical evidence Strongly agree a The building facilities at Techcombank Nguyen Hue look modern and comfortable b There is a large number of ATMs c ATM booths are airy and full of light d There is a large number of points of sale Section F: People a The staff appearance is neat and polite b The staff are knowledgeable and professional c The staff are always willing to assist customers when needed d The staff satisfactorily resolve customers’ complaints Strongly agree Appendix Section G: Process Strongly Disagree disagree Fair Agree Strongly agree a Procedures for transactions are simple b Transaction speed is fast Question 14: The problems that you may have encountered when using cards at ATMs Please tick the appropriate number which best indicates your opinion for each aspect a b c d e Never Rarely Sometimes Frequently Very frequently ATM downtimes Card is swallowed ATM runs out of money ATM runs out of receipt Money deficiency or torn money from ATM Question 15: Customer perception Please tick the appropriate number which best indicates your opinion for each aspect Strongly Disagree disagree Not sure a In the future, I will continue to use the payment card services of Techcombank b I will recommend Techcombank to other people THANK YOU AGAIN FOR YOUR TIME AND COOPERATION! Agree Strongly agree Appendix APPENDIX 3: LETTER OF REFERENCE - PROOF OF CARRYING OUT AN INTERNSHIP AT TECHCOMBANK NGUYEN HUE, DANANG, VIETNAM [...]...11 1.3 Research objectives The study is aimed at investigating customer behavior when using payment bank cards at Techcombank Nguyen Hue, Danang, Vietnam Accordingly, the research objectives are: - To determine factors and motivations affecting customers for using payment bank cards at Techcombank - To investigate customer satisfaction on payment bank card services provided by Techcombank Nguyen Hue... customers and is used to perform transactions at millions of ATMs nationwide of banks in such alliances as: Smartlink, Banknet and VNBC, and at Techcombank card-accepting units/ POS Customers can also make online transactions at all websites accepting Techcombank F@stAccess Card, such as Vietnam Airlines (Techcombank, 2015b)  Techcombank Visa Debit Card (Classic and Gold) Techcombank Visa Debit Card... offer at airports, discount offers for restaurants, health and beauty, travel and entertainment and many more (Techcombank, 2015e)  Vietnam Airlines - Techcombank Visa Card Include:  Vietnam Airlines Techcombank Visa Debit Card  Vietnam Airlines Techcombank Visa Credit Card  Vietnam Airlines Techcombank Visa Platinum credit card Similar to other visa cards, Vietnam Airlines Techcombank Visa Card can... as one of the most leading banks in Vietnam By 2014, Techcombank had received more than 10 international awards, highlighted by Best issuing Bank in Vietnam awarded by International Finance Corporation (IFC) – World Bank Group, Best Trade Finance bank in Vietnam 2014 awarded by Global Finance, Best Bank in Vietnam awarded by Finance Asia, ASEAN quality products/services and Most Favorite Brand ASEAN... which is an international payment card branded Visa International allows customers use the card to perform transactions in debit limits at millions of card-accepting units/ POS, websites and ATMs bearing the Visa logo in Vietnam and around the world Customers are also entitled to preferential discounts for payment transactions at POS associated with Techcombank (Techcombank, 2015c)  Techcombank Visa Credit... About Techcombank Nguyen Hue Transaction Office, Danang, Vietnam Techcombank Nguyen Hue is one of transaction offices directly under Techcombank Vietnam It started operations on February 10, 2009, situated at 65 Quang Trung Street, Hai Chau District, Danang City, Vietnam In recent years, Techcombank Nguyen Hue has asserted its position as a leading business in the fierce competition environment among... of research method Saunders et al (2009) emphasized the need for a clear research method that eventually has significant influence on the research outcomes There are two main research methods for data collection techniques and data analysis procedures, which are quantitative and qualitative research Quantitative research is used for data collection technique, such as survey questionnaire, or data analysis... propose solutions to maintain and improve the service quality of payment bank cards in order to encourage repeat patronage and loyalty, and attract new customers 1.4 Research questions In order to achieve those proposed objectives, the study is aimed at answering the following research questions: 1 Which factors and motivations affect customers’ decision for using payment bank cards at Techcombank Nguyen. .. demographic information of customers, namely gender, age, education level and average income per month Part II consists mainly of closed-ended questions exploring customer behavior towards using TURKU UNIVERSITY OF APPLIED SCIENCES THESIS | TRUNG NGUYEN 34 payment card services at Techcombank Nguyen Hue The specifics are the motivations and reasons for using payment cards at Techcombank, the satisfaction... questionnaire The interpretation, analysis and discussion about the results are described in detail Chapter 6: Conclusion and Recommendation This chapter summarizes the key findings and provides conclusion in terms of customer behavior when using payment cards at Techcombank Nguyen Hue, including the motivations for using and customer satisfaction on services provided The suggestions are then given for Techcombank ... Trung A RESEARCH ON CUSTOMER BEHAVIOR WHEN USING PAYMENT BANK CARDS AT TECHCOMBANK NGUYEN HUE, DANANG, VIETNAM The banking services, particularly payment cards, are among the most dynamic and developing... Place, Promotion, Physical Evidence, People, Process ACB Asia Commercial Bank ASEAN Association of Southeast Asian Nations ATM Automated Teller Machine DongA Bank DongA Joint Stock Commercial Bank. .. for payment transactions at POS associated with Techcombank (Techcombank, 2015c)  Techcombank Visa Credit Card (Classic and Gold) Techcombank Visa Credit Card which is an international payment